Every year, a new budget was laid out by our Finance Minister. New budget statements are announced every April of the year to enhance the government policies.
Compare the last three budgets (Budget 2018, Budget 2019 and Budget 2020) to prepare a report outlining the following.
1.Achieve an understanding of how Singapore uses the Budget to achieve its objectives
2.Analyse the Tax Incentives Singapore provides for Innovation to remain competitive amongst other neighbouring countries.
3.The population of most developed countries is aging and the birth rate has declined over recent decades. This will have an impact on tax revenue and the delivery of government services. Evaluate the tax incentives that were provided to mitigate the issues on aging population and reducing birth rates.
4.Make suitable recommendations for future budgets based on the analysis you made on above sections.